Lao Feng Xiang (900905)
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Lao Feng Xiang (900905) News
Gold jewelry consumption fell by 30% in the first half of the year, as gold brands collectively increased their focus on lightweight, hard pure gold products.
In the first half of this year, China's gold jewelry consumption volume declined by 30% year-on-year to 136 tons, while the total consumption value rose by 5% to RMB 143.7 billion. This set of "volume decline...
Gold prices surged 52%, yet gold jewelry sales fell 34%: divergent outcomes in the same market cycle
On September 2, the per-gram price of pure gold jewelry from multiple domestic brands fell further: Chow Tai Fook quoted RMB 1,306/gram, Lao Miao Gold RMB 1,303/gram, Chow Sang Sang RMB 1,302/gram, and Lao Feng Xiang RMB 1,307/gram, with single-day declines ranging between RMB 35 and RMB 37. As recently as August 25, the per-gram prices for these brands were at their monthly highs. Over the course of one week, the cumulative per-gram declines for pure gold jewelry at Chow Sang Sang, Lao Miao, and Lao Feng Xiang amounted to RMB 106, RMB 104, and RMB 99, respectively (Cailian Press, September 2). Extending the timeframe to six months, the volatility in this market cycle appears even more pronounced: the average price of London spot gold in the first half of the year was 4,688.62
The gold sector surged across the board, with gold equity ETFs, gold ETFs, and physical gold ETFs rising collectively.
Buoyed by strengthening international gold prices, gold equity ETFs, gold ETFs, and physical gold ETFs rose in unison. Huaan Gold Equity ETF (159321) led the gains with a 5.75% increase, followed by Ping An Gold Equity ETF (159322) up 5.66%, Guotai Gold Equity ETF (517400) up 5.64%, ChinaAMC Gold Equity ETF (159562) up 5.57%, ICBC Credit Suisse Gold Equity ETF (159315) up 5.39%, and Yongying Gold Equity ETF (517520) up 5.22%. Gold ETFs and physical gold ETFs also strengthened simultaneously. Southern Gold ETF (159834)
Express News | Cailian Press – Midday News Digest, August 11
1. As of the midday close, the Shanghai Composite Index declined by 0.05%, the Shenzhen Component Index rose by 0.65%, and the ChiNext Price Index gained 1.41%. 2. At the midday close of the Hong Kong market, the Hang Seng Index fell by 0.63%, and the Hang Seng Tech Index dropped by 1.27%. 3. A comparison of domestic gold jewelry prices shows that several major gold and jewelry brands have raised their quoted prices for 24-karat gold jewelry within mainland China compared to yesterday: Laofengxiang at RMB 1,330 per gram, Laomiao Gold at RMB 1,332 per gram, and Chow Sang Sang at RMB 1,336 per gram. 4. According to informed sources, Apple has not altered its product roadmap and still plans to launch an all-glass flagship model next year to commemorate the 20th anniversary of the iPhone's debut. 5. According to the National Meteorological Center, as of 11:00 a.m. on August 11, Typhoon Dolphin had weakened into a tropical depression and was located in Huanggang, Hubei Province.
A-Share Market Movement | Gold-related stocks rise collectively, with Zijin Gold hitting the daily trading limit
GLONDS, July 30 | Gold-related stocks in the A-share market rose collectively, with Zhaojin Gold hitting the 10% daily trading limit, Shandong Gold International gaining more than 5%, Western Gold rising over 4%, and Shandong Gold, Laofengxiang, and Sichuan Gold all increasing by more than 3%. On the news front, the Federal Reserve announced on July 29 that it would maintain the federal funds rate unchanged at 3.50%–3.75%, marking its fifth consecutive hold since 2026. Following the announcement, U.S. Treasury yields declined and spot gold surged, briefly surpassing $4,100 per ounce.
Domestic gold jewelry prices rebounded to RMB 1,247 per gram.
Gelonghui, June 27 | Gold and silver prices rose, prompting domestic gold jewelry prices to follow suit. Today, Lao Feng Xiang's 24-karat gold jewelry was quoted at RMB 1,235 per gram, up RMB 15 from RMB 1,220 per gram the previous day. Chow Sang Sang's 24-karat gold jewelry was quoted at RMB 1,247 per gram, up RMB 20 from RMB 1,227 per gram the previous day.
Express News | Gold jewelry price per gram drops to RMB 1,241, falling RMB 27 overnight
The Federal Reserve's hawkish signals have heightened expectations of interest rate hikes, raising the holding cost of gold. Coupled with easing geopolitical tensions and cooling safe-haven demand, bullish sentiment toward gold has been dampened. Domestic branded gold jewelry prices have been sharply adjusted downward: Lao Feng Xiang’s 24-karat gold jewelry is quoted at RMB 1,241 per gram, down RMB 27 from the previous day's RMB 1,268 per gram; Lao Miao Gold’s 24-karat gold jewelry is priced at RMB 1,245 per gram, a RMB 27 decline from the prior day's RMB 1,272 per gram; and Chow Sang Sang’s 24-karat gold jewelry is at RMB 1,248 per gram, down RMB 22 from the previous day.
Express News | Gold jewelry prices dropped another RMB 11 overnight.
On the 20th, Laomiao Gold’s price for 24-karat gold jewelry was RMB 1,268 per gram, down RMB 11 from RMB 1,279 the previous day; Lao Feng Xiang’s price for 24-karat gold jewelry was RMB 1,258 per gram, down RMB 7 from RMB 1,265 the previous day; and Chow Sang Sang’s price for 24-karat gold jewelry was RMB 1,263 per gram, down RMB 9 from RMB 1,272 the previous day.
Express News | Prices of domestic branded gold jewelry rise broadly; Chow Sang Sang's gold price rebounds to RMB 1,300
Spot gold prices fluctuated upward, prompting a corresponding increase in domestic gold jewelry prices per gram today. Chow Sang Sang's 24-karat gold jewelry is priced at RMB 1,306 per gram, up RMB 32 from RMB 1,274 the previous day; Lao Feng Xiang's 24-karat gold jewelry is priced at RMB 1,290 per gram today, an increase of RMB 19 from RMB 1,271 the previous day; and Lao Miao Gold's 24-karat gold jewelry is priced at RMB 1,299 per gram, up RMB 28 from RMB 1,271 the previous day.
Laofengxiang Co., Ltd. (SHA: 600612): Elected Yin Ye as Employee Representative Director to the 12th Board of Directors
Gelonghui, June 10 — Laofengxiang Co., Ltd. (SHA: 600612) announced that the company held the Fifth Session of the Third Workers' (Members') Congress of the Company Trade Union on June 10, 2026. The company’s workers’ congress elected Comrade Yin Ye as the employee representative director to the company’s Twelfth Board of Directors, with a term concurrent with that of the Twelfth Board of Directors, i.e., from June 16, 2026, to June 15, 2029.
Trends | Royal showcased new products at the Pet Expo, Platinum Shopping Festival Season 2 kicks off, Albion hosted its first CS Channel Conference, and WPP Open China Edition officially launched.
Royal Canin has participated in the exhibition for six consecutive years, with the theme 'Kittens and Puppies Deserve Royal Canin,' comprehensively implementing a pet health protection plan.
Lao Feng Xiang Unit Receives Nearly 132 Million Shares in Debt Settlement
Lao Feng Xiang (SHA:600612) unit Lao Feng Xiang Pawn received 131.7 million ordinary Class B shares in a reorganization service trust established for debtor Yibang Real Estate.The trust, set up to
Lao Fengxiang Co., Ltd. 2025 Annual Report
Summary of the 2025 Annual Report of Lao Fengxiang Co., Ltd.
Lao Fengxiang Co., Ltd. First Quarter Report for 2026
Announcement by Lao Fengxiang Co., Ltd. on the Company\'s Key Operating Data for the First Quarter of 2026
Lao Feng Xiang's Q1 revenue dropped by more than 20% as high gold prices suppressed jewelry consumption demand | Earnings Report Analysis
①Lao Feng Xiang's Q1 revenue declined by 21.57% year-on-year, with net profit falling by 10.76%. ②The concurrently disclosed 2025 annual report shows a decline in both revenue and net profit. ③Gold consumption and gold jewelry consumption in 2025 decreased year-on-year.
Express News | Chow Tai Fook delays price adjustment for 'fixed-price' products; stores claim new price tags have been received and are awaiting headquarters' notice.
Due to the pullback in international gold prices from their high levels, branded gold jewelry prices continue to decline. On that day, Chow Tai Fook was quoted at 1,346 yuan per gram, a decrease of 29 yuan per gram compared to the previous day; Chow Sang Sang was quoted at 1,350 yuan per gram; and Lao Feng Xiang was quoted at 1,345 yuan per gram. Market sources indicate that the fluctuating drop in gold prices has disrupted the price hike plans of some brands, with Chow Tai Fook's price adjustment plan for 'fixed-price' products having been postponed multiple times. In response, multiple Chow Tai Fook stores in the Beijing area stated that the price adjustment plan has indeed been delayed. However, the stores mentioned they have already received new price tags distributed by the headquarters but have not yet replaced them. 'We are only waiting for the headquarters' notice. If there is a price adjustment, we will immediately replace the labels. Currently, the prices of 'fixed-price' products are generally higher than the current gold price, and the production fees are also more expensive than those calculated by weight. Given the significant recent decline in gold prices, the price adjustment plan has been temporarily postponed. Further updates will depend on the headquarters' notice.' (China Securities Golden Bull Seat)